Index number. A way to standardize the price changes of goods that have much different prices. For example, a consumer price index might be represented by a shopping cart of goods.

Understanding the Index Number Method . Take the example of an economist tracking changes in the cost of living over five years. Suppose the first year in the study is 2010, ...

An index or index number combines relative changes in various variables into one figure. Price and volume indices are important indicators in economic statistics. They give aggregated information on ...

For example, a news report might announce that the MBA Purchase Index rose 2% for the week ending June 21, which provides an inside look at the number of potential home sales that were recorded ...